Canadian auto sales rose to a record high for the month of July up 11.3 per cent from last year, said an industry analyst last week.
Strong truck sales are what pushed the numbers up, with strong performances by Chrysler and Ford Motor Co. Chrysler Canada saw its Jeep and Ram brands doing especially well setting July records. The auto giant sold 28,007 units up from 26,209 in 2013. Ford also saw a big jump up 15 per cent from last year with its popular F-series reaching a 26.2 per cent gain. The company sold 28,923 vehicles making it the best-selling brand for July.
Overall, automakers sold a combined 176,995 units in July according to a report from DesRosiers Automotive Consultants. Carlos Gomes, an analyst for Scotiabank, predicts that sales are set to hit a record 1.77 million vehicles sold this year.
General Motors, an automaker that has struggled in recent months, saw a huge jump of 25 per cent from last year. Both car and truck sales saw increased sales volume leading to the company’s best July in Canada since 1986.
The reason for the increased sales volume, according to Gomes, is the best vehicle affordability in decades, low interest rates and improved consumer confidence. Also, summertime in the North American auto industry typically brings on the best incentives and rebates in order to clear out current model-year vehicles in preparation for the arrival of new models.